[Cancelled] China Eximbank provides oil-backed loan for 420 km Abéché-Biltine-Iriba-Am-Djarass Construction Project (Linked to Umbrella Record ID#56198)

[Cancelled] China Eximbank provides oil-backed loan for 420 km Abéché-Biltine-Iriba-Am-Djarass Construction Project In 2012, China Eximbank reportedly issued an oil-backed loan for the 420 km Abéché-Biltine-Iriba-Am-Djarass Construction Project.

This project involved the construction of a 420 km of road between Abéché, Biltine, Iriba, and Am-Djarass, near the border with Sudan.

The project had a total cost of 187 billion CFA (285 million euros), but the face value of the China Eximbank loan is unknown..

This project had three components: the Abéché-Biltine Road (90 km), which was to be implemented by the China Railway Seventh Bureau Group Co., Ltd. and completed by the end of 2014; the Biltine-Iriba Road (195 km), which was to be implemented by China Overseas Construction Group Co., Ltd. (starting in 2013 and lasting 36 months); and Iriba-Am-Djarass Road (137 km), which was to be implemented by China Shandong International Economic and Technical Cooperation Group Co., Ltd and completed within three years.

On December 20, 2012, a groundbreaking ceremony was held for this project. However, this project was not completed with financing from China Eximbank.

Although it was initially approved for financing through a subsidiary loan under the Master Loan Facility Agreement (MLFA) that the Government of Chad signed with China Eximbank in 2011 (captured in #56198), the MLFA was subsequently cancelled in December 2013. Therefore, AidData has status-coded this project as cancelled.